Glendon Capital Management LP Trims Stake in NRG Energy, Inc. (NYSE:NRG)

Glendon Capital Management LP cut its position in NRG Energy, Inc. (NYSE:NRG) by 29.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 698,683 shares of the utilities provider’s stock after selling 296,770 shares during the period. NRG Energy comprises about 2.7% of Glendon Capital Management LP’s portfolio, making the stock its 9th largest position. Glendon Capital Management LP owned approximately 0.31% of NRG Energy worth $36,122,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. CENTRAL TRUST Co raised its holdings in shares of NRG Energy by 1,005.5% during the fourth quarter. CENTRAL TRUST Co now owns 807 shares of the utilities provider’s stock worth $42,000 after acquiring an additional 734 shares during the period. Blue Trust Inc. raised its holdings in shares of NRG Energy by 35.4% during the fourth quarter. Blue Trust Inc. now owns 865 shares of the utilities provider’s stock worth $45,000 after acquiring an additional 226 shares during the period. Robeco Institutional Asset Management B.V. acquired a new stake in shares of NRG Energy during the fourth quarter worth $51,000. Authentikos Wealth Advisory LLC bought a new position in NRG Energy in the third quarter valued at $41,000. Finally, Harvest Fund Management Co. Ltd bought a new position in NRG Energy in the third quarter valued at $57,000. 97.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on NRG. BMO Capital Markets raised their target price on shares of NRG Energy from $58.00 to $59.00 and gave the company a “market perform” rating in a research report on Thursday, February 29th. Wells Fargo & Company raised their target price on shares of NRG Energy from $78.00 to $85.00 and gave the company an “overweight” rating in a research report on Monday, March 25th. Morgan Stanley lifted their price objective on shares of NRG Energy from $51.00 to $63.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 26th. Evercore ISI lifted their price objective on shares of NRG Energy from $55.00 to $65.00 and gave the company an “in-line” rating in a research report on Monday, March 18th. Finally, Citigroup lifted their price objective on shares of NRG Energy from $52.00 to $62.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, NRG Energy presently has a consensus rating of “Hold” and an average price target of $59.50.

NRG Energy Stock Performance

Shares of NRG stock traded up $1.47 during midday trading on Thursday, hitting $75.13. 2,060,735 shares of the company were exchanged, compared to its average volume of 3,568,035. The firm has a market capitalization of $16.13 billion, a P/E ratio of -68.84 and a beta of 1.11. The company has a debt-to-equity ratio of 4.49, a quick ratio of 0.96 and a current ratio of 1.02. The firm’s 50 day moving average price is $66.47 and its two-hundred day moving average price is $54.96. NRG Energy, Inc. has a 52 week low of $30.52 and a 52 week high of $76.54.

NRG Energy (NYSE:NRG) last announced its earnings results on Wednesday, February 28th. The utilities provider reported $1.14 EPS for the quarter, topping the consensus estimate of $0.94 by $0.20. The business had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $7.51 billion. NRG Energy had a negative net margin of 0.70% and a positive return on equity of 44.03%. As a group, equities research analysts anticipate that NRG Energy, Inc. will post 5.36 earnings per share for the current year.

NRG Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be paid a $0.4075 dividend. This represents a $1.63 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Tuesday, April 30th. NRG Energy’s dividend payout ratio (DPR) is -152.34%.

Insiders Place Their Bets

In other NRG Energy news, VP Rasesh M. Patel sold 49,092 shares of NRG Energy stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $62.59, for a total value of $3,072,668.28. Following the completion of the sale, the vice president now owns 356,962 shares in the company, valued at approximately $22,342,251.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.86% of the company’s stock.

NRG Energy Company Profile

NRG Energy, Inc, together with its subsidiaries, operates as an energy and home services company in the United States and Canada. It operates through Texas; East; West/Services/Other; Vivint Smart Home; and Corporate Activities segments. The company produces and sells electricity generated using coal, oil, solar, and battery storage; natural gas; and a cloud-based home platform, including hardware, software, sales, installation, customer service, technical support, and professional monitoring solutions.